Prudential Mortgage Capital Company has provided a $197m (£130m) loan to GCP Student Living to finance a five-property, student housing portfolio totalling over 1,700 units.
Prudential Mortgage Capital Company, which does business in the UK and Europe as Pricoa Mortgage Capital, is the commercial mortgage lending business of Prudential Financial in the US.
The fixed-rate loan has a term of nine years, and is secured by the five properties, which are of modern construction and located in London.
"We are delighted to support GCP Student Living's dual goals of continued asset expansion and sustainable income returns for their investors, securing long-term fixed-rate finance across their portfolio," said David Gingell, director of European originations at Prudential Mortgage Capital Company.
GCP Student Living was set up as a real estate investment trust (REIT) in 2013 and is managed by UK-based infrastructure property specialist Gravis Capital Partners.
Prudential Mortgage Capital Company said it has seen an increased borrower appetite in Europe for long-term, fixed-rate senior debt. In August, the firm lent $241m to Access Self Storage.
Prudential Mortgage Capital Company had more than $87.3bn in assets under management and administration at 30 June. Prudential Financial had more than $1trn of assets under management at the same date.